INTEROIL Corp says its Antelope field has confirmed PNG as a world class gas resource base in close proximity to the largest and most well developed liquefied natural gas (LNG) market in the world.
This comes after InterOil its Antelope-2 well flowed at 705 million cubic feet of natural gas per day (MMCFD) including 11,200 barrels of condensate per day (bcpd) for a total 129,000 barrels of oil equivalent per day (boepd).
The flow ceremony was on Tuesday where the surface flowing tubing pressure was 1,258 psi through a 6-inch capacity choke that was opened to 4 3/8 inches.
InterOil in a statement said Antelope-2 and previous wells, had confirmed over 1.2 billion cubic feet of gas per day (bcf/d) of productive capacity.
“Additionally the condensate ratio established at the top of the Antelope reservoir further enhances the economic viability of the proposed condensate stripping facility,” it said, adding updated third party resource estimates would be released when completed.